We are bombarded regularly with narratives touting the ravaging effects of income inequality in capitalist societies. For many, inequality is the signature economic story of the twentieth century and must be averted at all costs. But inequality is only problematic when it’s the culmination of corrupt policies that grant favors to privileged groups. In reality, market-driven inequality is the source of unbridled progress.

It’s easy to see why, according to a new Harris poll, 71 percent of Americans said they do not want Joe Biden to run for re-election. As Americans face record gas prices and the highest inflation in 40 years, President Biden admits he could not care less. His Administration is committed to fight a proxy war with Russia through Ukraine and Americans just need to suck it up.

Consumers aren’t a section of society; they are not different from others. Anyone who buys goods and services is simply a consumer. In a modern economy, a consumer can buy goods and services with help of a tool called money.

Undoubtedly, money is a very important tool, and it is money that assures a basic consumer right. Even producers and sellers are consumers in their day-to-day lives. Importantly, everybody is a consumer. Therefore, consumers need more importance, as they include everyone.

Most economists and economic commentators believe that inflation is defined as general increases in prices of goods and services. Thus, they hold that anything that contributes to price increases sets inflation into motion.

Argentina, the mystery of South America. How could a country that was once the most prosperous in the world now rank seventy-third (see figure below)? It is also in sixth place in the Annual Misery Index. How could this happen? What’s going on now?

In 1944 Mises wrote: Omnipotent Government: The Rise of Total State and Total War. He provided a first-hand account of the horrors of government, something America’s founding fathers were familiar with all too well.

A recent essay on the Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J. Pollock’s “Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy?“ became the focal point for a wide-ranging discussion of monetary issues that got to the heart of our monetary and overall economic future.

If there is a mantra among progressive American political and media elites, it would be “our democracy,” usually preceded by what they believe to be a threat from the Right. For example, progressives deemed the recent reversal of Roe “a threat to our democracy” because it removed laws regulating abortion from Supreme Court jurisdiction and returned the issue to democratically elected legislatures.

In his book Anarchy, State, and Utopia, Robert Nozick has a chapter named “The Tale of the Slave” in which he explains the nine phases from the most restrictive to more liberating states of slavery. He writes that even though enslaved people have certain forms of self-rule, they are still enslaved. He asks: “Which transition from case 1 to case 9 made it no longer the tale of a slave?”